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Weekly Recap: Marchionne's Manifesto again calls for industry consolidation

Sergio Marchionne isn't taking no for an answer. Despite public rebuffs from General Motors and Ford, the leader of Fiat Chrysler Automobiles continues to push for consolidation within the auto industry. His latest assertion came Wednesday when he said a combination of FCA with another automaker could net savings of $5 billion or more annually. No, this isn't about selling his company, he claimed, it's about cutting costs. Put simply, the auto industry wastes money, Marchionne said during FCA's earnings conference call. Companies invest billions to develop basic components that all cars use, but many consumers don't care how they work or recognize the differences. "About half of this is really relevant in terms of positioning the car in the marketplace," he said. "The other half, in our view, is stuff which is neither visible to the consumer nor is it relevant to the consumer." In 2014, top automakers spent more than $100 million on product development, FCA estimated. Marchionne said consolidation could save up to $1 billion on powertrains alone, noting that almost every automaker offers four- and six-cylinder engines. Not everyone has to make their own, he contended. "The consumer could not give a flying leap whose engines we are using because they are irrelevant to the buying decision." That's pretty provocative for enthusiasts, but less so for average consumers. Still, there are major differences in power and efficiency ratings, even among similar engines. Skeptics could argue consolidation would also weaken competition and reduce choices for car buyers. Marchionne stressed his presentation, curiously entitled Confessions of a Capital Junkie, wouldn't require closing factories or dealerships. It's not his final "big deal" as CEO, intent to sell FCA, or a way to elevate his company up the automotive food chain. He claims he wants to fundamentally change the industry and its habit for burning cash. "The horrible part about this, and the thing that I find most offensive, is that the capital consumption rate is duplicative," he said. "It doesn't deliver real value to the consumer and it is in its purest form, economic waste." Other News & Notes Ford Profits dip in first quarter Ford profits fell $65 million to $924 million in the first quarter, hampered by slight dips in revenue and sales.

2015 Ford F-150 gets Power Wheels treatment [w/video]

With the introduction of its forthcoming 2015 F-150, Ford is breaking with convention by shifting from steel-intensive construction to aluminum. But what if it weren't made of metal altogether? What if it were made of plastic instead, and packed an electric motor instead of an internal-combustion engine?
Feast your eyes, boys and girls, on the new Power Wheels F-150. Built by Fisher-Price and licensed by Ford, the third-generation ride-on toy started development nine months before the full-size version debuted at the Detroit Auto Show this past January, and is hitting sidewalks and driveways across the country this September.
The Power Wheels F-150 carries a sticker price of $349.99, and there's a special version at Toys R Us with LED headlamps (just like the real F-150) for an extra $10.

Junkyard Gem: 1971 Mercury Comet 2-Door Sedan

When Ford introduced the original Maverick for the 1970 model year, Dearborn tradition required that a Mercury-badged version be created. That car ended up being the Comet, built from the 1971 through 1977 model years. Here's one of those first-year Comets in rough but recognizable condition, found in a Denver self-service yard not long ago. The Comet name had spent the 1960s affixed to the flanks of Mercurized Ford Falcons (1960-1965) and Fairlanes (1966-1969). Since the Maverick was the successor of the Falcon — sales of which went into an irrecoverable downward spiral once its sportier Mustang first cousin hit the streets — it made sense to move the Comet name over to the Mercury version. Nearly every American Mercury model ever sold was a U.S.-market Ford model with a different name and some gingerbread slapped on. Notable exceptions to this tradition include the 1999-2002 Mercury Cougar (mechanically based on the Contour but with a unique body) and the 1991-1994 Mercury Capri (an Australian-built mashup of Mazda components borrowed from the Ford Laser). The Comet was by far the cheapest Mercury model available in 1971, though it was considered more prestigious than its Maverick counterpart. The price tag on the '71 Comet two-door sedan started at $2,217 (about $16,505 in 2022 dollars), while the '71 Maverick two-door sedan cost $2,175 ($16,193 today). Meanwhile, AMC would sell you a new Hornet two-door sedan for one dollar less than a Maverick, Chevrolet had the Nova coupe for a dollar more than the Maverick, and Plymouth offered the Valiant Duster for $2,313 ($17,220 now). Toyota had a Maverick competitor as well that year, with the Corona at $2,150 for the sedan and $2,310 for the coupe. Having driven every one of the aforementioned models, I'd take the Duster if I went back in time and had to choose one (as a 1969 Corona owner, I'm not a fan of the 1971 facelift, though the Corona's build quality beats the Duster's). The build sticker on this car tells us that it was built at the Kansas City Assembly Plant (where Transits and F-150s are made today) and sold through the Los Angeles district sales office (there was a DSO in Denver, so it's a near-certainty that this car didn't start out in Colorado). The paint started out as Bright Blue Metallic (it's neither bright nor metallic 51 years down the road) and the interior was done up in Medium Blue Cloth & Vinyl.